What made you interested in investing in this type of deal?

It is late for this incident and not actually dealing with the issue, but that advice will help in the future! 

I also have a full-time w2 job where I find myself working close to 55-60 hours per week.

I've seen deals that are "rack + $0.03/gallon" and others that get much better deals. 

He’s older and I’d like my first investment deal to benefit him as well. 

You need to establish a relationship with an active agent closing deals month to month.

The qualifying attributes are consistently: quick close, no tax return, limited documentation….

Just a heads up.So you calculated out you need  $6 million worth of apartments to hit your goal.A commercial loan may require 20% to 30% down in cash, cash reserves, working capital, and closing costs.You will also need earnest money cash.The lender may also require certain repairs to be done Shortly after the loan is made.The lender may also require the Property to be stabilized as far as occupancy percentage is concerned, leaving little on the bone as far as sweat equity.Good Luck!

Ask the manager to explain their process for dealing with maintenance, late rent, evictions, turnover, etc.

When you can close on a home sale in a short period of time those 2% and 3% checks pile up cash fast.